Vanguard® Target Retirement 2060 Fund - Investor Shares

Vanguard? Target Retirement 2060 Fund - Investor Shares

Release Date

..............................................................................................................................................................................................................................................................................................0.6..-.3..0..-.2.4..................................

Category

Target-Date 2060

Investment Objective & Strategy

From the investment's prospectus

The investment seeks to provide capital appreciation and current income consistent with its current asset allocation.

The fund invests in a mix of Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2060 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.

Past name(s) : Vanguard Target Retirement 2060 Inv.

Volatility and Risk

Volatility as of 06-30-24

Investment

Low

Moderate

High

Category

Risk Measures as of 06-30-24

3 Yr Std Dev

3 Yr Beta

Port Avg Rel S&P 500

15.81

0.89

1.25

.

Rel Cat

0.96

0.97

Principal Risks Currency, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, Market/Market Volatility, Equity Securities, Underlying Fund/Fund of Funds, Fixed-Income Securities, Management, Target Date

Important Information Please refer to the Morningstar Disclosure and Glossary document contained in your plan's eligibility package for additional information. You may always access the most current version of the Disclosure and Glossary at fundonepagerscolor/DisclosureGlossary.pdf

Funds or their affiliates may pay compensation to Voya? affiliates offering a fund. Such compensation may be paid out of distribution, service and/or 12b-1 fees that are deducted from the fund's assets, and/or may be paid directly by the fund's affiliates. Any fees deducted from fund assets are discussed in the fund's prospectus and disclosed in the fund fact sheet. Because these fees are paid on an on-going basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges. If offered through a retirement program, additional fees and expenses may be charged under that program. NOT A DEPOSIT. NOT FDIC INSURED. NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOT GUARANTEED BY THE INSTITUTION. MAY GO DOWN IN VALUE.

Allocation of Stocks and Bonds

100

% Allocation

80

Bonds

60

Stocks

Cash

40

Other

20

0

50

40

30

20

10

0

-10

-20

-30

Years Until Retirement

Portfolio Analysis

Composition as of 05-31-24

U.S. Stocks Non-U.S. Stocks Bonds Cash Other

Top 5 Holdings as of 05-31-24

Vanguard Total Stock Mkt Idx Instl Pls Vanguard Total Intl Stock Index Inv Vanguard Total Bond Market II Idx Inv Vanguard Total Intl Bd II Idx Insl

Credit Analysis: % Bonds as of 03-31-24

AAA

57 BB

AA

10 B

A

17 Below B

BBB

15 Not Rated

% Assets

52.4 34.4 9.6 3.5 0.1

% Assets

53.58 35.90 6.68 3.01

0 0 0 0

Operations Gross Prosp Exp Ratio Net Prosp Exp Ratio Management Fee 12b-1 Fee Other Fee Miscellaneous Fee(s) Fund Inception Date Total Fund Assets ($mil) Annual Turnover Ratio % Fund Family Name

Notes

0.08% of fund assets 0.08% of fund assets 0.00%

. . 0.08% 01-19-12 26,933.3 1.00 Vanguard

Morningstar Style BoxTM as of 05-31-24(EQ) ; 03-31-24(F-I)

High Med Low Large Mid Small

Value Blend Growth

Ltd Mod Ext

Morningstar Super Sectors as of 05-31-24

h Cyclical j Sensitive k Defensive

% Fund

33.87

46.29

19.84

Morningstar F-I Sectors as of 05-31-24

/ Government > Corporate Securitized < Municipal fi Cash/Cash Equivalents ? Derivative

% Fund

43.59 17.02 12.46 0.29 15.26 11.38

Waiver Data

Type

.

.

Exp. Date

%

.

.

Portfolio Manager(s)

Walter Nejman. Since 2013.

Michael Roach, CFA. Since 2023.

................................................................................................

Advisor

Vanguard Group Inc

Subadvisor

.

?2024 Morningstar, Inc., Morningstar Investment ProfilesTM 312-696-6000. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Past performance is no guarantee of future performance. Visit our investment website at .

?

13.3447-224 (07/24) CN3265965_1225

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